Cboe Global Markets and S&P Dow Jones Indices announced a 25-year extension of their exclusive licensing agreement, continuing their collaboration through 2051. This agreement secures Cboe's exclusive rights to offer trading in S&P 500 Index (SPX) options.
The partnership, which began in 1983 with the launch of SPX options, now spans more than 43 years. Cboe and S&P DJI will also explore new products, specifically tokenized options contracts.
Craig Donohue, Chief Executive Officer of Cboe Global Markets, praised the collaboration. He said the relationship built one of the world's most liquid products through S&P DJI's index expertise and Cboe's ability to operate derivatives markets.
Donohue added the extension offers certainty for customers of SPX and VIX products. It also gives Cboe opportunity to pursue innovation, including emerging technologies, in the decades ahead.
Catherine Clay, Chief Executive Officer of S&P DJI, said the S&P 500 is the primary measure of U.S. equity market performance. She said the increasing investor demand for U.S. equity exposure allows all investors to access this benchmark in their preferred format.
Clay affirmed Cboe's deep expertise in developing and operating liquid derivatives markets complements S&P DJI's index knowledge. The agreement allows both organizations to innovate for the next generation of investors.
SPX options are among the most liquid and actively traded index options globally. In 2025, SPX options set a record annual volume of 970.6 million contracts.
This record represented an average daily volume of 3.9 million contracts for the year. The 2025 figures marked a 25 percent increase over the prior year's volume and the fourth consecutive year of record volume for the product.
The explicit mention of tokenized options contracts signals a direct path for these traditional finance giants to integrate digital asset technology into established derivatives markets. This move positions both Cboe and S&P DJI to capture a share of the on-chain financial landscape.
